The trustees met on Monday afternoon where they discussed and passed on the following:

* Principal Resident Loans will be added to the Plan. (PR loans have longer durations than current loans.)

* Discussion Item — If current deduction caps are lowered because of failure to pass federally mandated discrimination tests, allowing participants will be allowed to re-characterize Plan contributions that are above the cap to remain in the Plan as after tax contributions. (Note: This discussion item has not yet been voted on by the trustees.)

The TAG 401(k) Plan came into existence twenty years ago, and serves as a third pension plan for Guild members. It’s enjoyed steady growth since its modest beginnings, and is now administered by Vanguard Mutual Funds.